Millrose Properties, Inc. 8K

Millrose Properties, Inc. announced strong second quarter 2026 results, increased its dividend, expanded and diversified its homesite option and land banking portfolio, and reported solid liquidity and leverage metrics.

On August 4, 2026, Millrose Properties, Inc. reported its financial results for the quarter ended June 30, 2026, highlighting net income attributable to common shareholders of $125.9 million ($0.76 per share), AFFO of $127.6 million ($0.77 per share) with a quarterly AFFO run-rate of $0.80 per share at the high end of guidance, and total revenues of $196.9 million driven by option fee revenues and development loan income. The company emphasized active capital redeployment, including $1.1 billion of land acquisitions and development funding, expansion of its counterparty base to 19 homebuilder and developer relationships, and total homesites under option contracts and related assets of $9.7 billion with no option terminations since inception. Millrose increased invested capital outside of the Lennar Master Program Agreement to $2.8 billion, generated $1.0 billion in net cash proceeds from homesite sales, declared and paid a quarterly dividend of $0.77 per share (its sixth consecutive quarterly increase), and detailed portfolio metrics such as a 9.2% weighted average annualized yield, 143,771 homesites across 877 communities in 30 states, and a conservative balance sheet with $9.7 billion in total assets, $1.4 billion in liquidity, $2.5 billion of total corporate debt, and a debt-to-capitalization ratio of approximately 30%. The release also noted further diversification into multifamily land banking via a new relationship with JPI and an intent to support industry consolidation by providing land banking capital for Dream Finders Homes’ proposed acquisition of Beazer Homes.

Filing Facts

CIK

2017206

Ticker

-

Form

8K

Source Type

sec

Accession

0001193125-26-331663

Alert Tier

6